Chase Investment Counsel Corp purchased a new position in Novanta Inc. (NASDAQ:NOVT) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 9,060 shares of the technology company’s stock, valued at approximately $395,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of NOVT. Alps Advisors Inc. bought a new stake in Novanta in the 3rd quarter worth approximately $500,000. Principal Financial Group Inc. bought a new position in shares of Novanta during the 3rd quarter valued at approximately $294,000. Cavalier Investments LLC bought a new position in shares of Novanta during the 3rd quarter valued at approximately $589,000. Prudential Financial Inc. bought a new position in shares of Novanta during the 3rd quarter valued at approximately $269,000. Finally, Navellier & Associates Inc bought a new position in shares of Novanta during the 2nd quarter valued at approximately $401,000. 78.50% of the stock is currently owned by institutional investors.
Shares of Novanta Inc. (NASDAQ:NOVT) traded up $0.05 during trading on Monday, reaching $52.70. The company’s stock had a trading volume of 199,700 shares, compared to its average volume of 179,512. The company has a market cap of $1,823.01, a P/E ratio of 34.67 and a beta of 1.29. The company has a quick ratio of 2.00, a current ratio of 2.93 and a debt-to-equity ratio of 0.76. Novanta Inc. has a 12 month low of $18.25 and a 12 month high of $53.95.
Novanta (NASDAQ:NOVT) last announced its quarterly earnings data on Wednesday, November 1st. The technology company reported $0.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.08. The company had revenue of $146.30 million for the quarter, compared to the consensus estimate of $132.10 million. Novanta had a return on equity of 18.29% and a net margin of 12.45%. Novanta’s quarterly revenue was up 49.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.29 EPS. equities analysts anticipate that Novanta Inc. will post 1.56 EPS for the current year.
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Novanta Inc, formerly GSI Group Inc, designs, develops, manufactures and sells precision photonic and motion control components and subsystems. The Company’s segments are Photonics, Vision and Precision Motion. The Photonics segment designs, manufactures and markets photonics-based solutions, including carbon dioxide (CO2) laser sources, laser scanning and laser beam delivery products, to customers around the world.
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